The Latest Breaking News from Credit Suisse

A Swiss criminal court is opening a trial on charges that Credit Suisse failed to do enough to stop money laundering linked to drug trafficking by a Bulgarian criminal organization

Rolling coverage of the latest economic and financial news

Analysts lowered the price target for Rockwell Automation (NYSE:ROK) after the Q1 results. JPMorgan analyst Stephen Tusa lowered the price target to $220 from $225 and kept an Underweight rating.  Tusa sees an "expensive stock getting too much credit for its realistic growth potential."  He expects consensus estimate cuts and a deceleration in Rockwell's growth…

Credit Suisse analyst Kaumil Gajrawala downgraded Clorox Co (NYSE:CLX) to Underperform from Neutral with a $160 price target. The analyst thinks a large portion of Clorox's growth during the first phase of the pandemic came from categories that are now declining. If consumption continues to revert toward pre-pandemic levels, $500 million in company sales may…

CREDIT Suisse, the Swiss bank reeling from the sudden departure of chairman Antonio Horta-Osorio, issued a profit warning today related to legal costs.

Credit Suisse analyst Phil Winslow upgraded Cloudflare Inc (NYSE:NET) to Outperform from Neutral with a price target of $140, down from $205, implying an upside of 49%. Winslow sees Cloudflare sustain significant revenue growth, within the high 40% to +50% range, for multiple years. Winslow's expectations grew from differentiated serverless architecture, efficient and rapidly expanding…

António Horta-Osório resigned last week after bank looked into alleged repeated breaches of Covid rules

Sir António Horta-Osório has resigned at Credit Suisse after reportedly breaking lockdown rules to visit Wimbledon. His departure as chairman after nine months is surprising in some ways but in banking, he isn’t alone. Jes Staley quit Barclays last year over his historic relationship with Jeffrey Epstein. In 2020, Credit…

Credit Suisse turned to a Swiss candidate for the second time in two years for a top role at the bank as it struggles to repair its reputation after a series of trading and personnel scandals, writes Bloomberg.